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VAT registration in Thailand becomes compulsory for a company once its taxable turnover goes above THB 1.8 million a year. The company registers within 30 days of crossing that line, or before it starts trading if it expects to be above it from day one. VAT is 7% until 30 September 2027. A registered company files a PP 30 return every month: by the 15th on paper, or by the 23rd online under the e-filing extension that runs to 31 January 2027. Separately, every limited company keeps books, has its accounts audited and files them with the Department of Business Development (DBD) each year, even when it has no sales.
In short
- VAT registration: above THB 1.8 million of taxable turnover a year, within 30 days (Revenue Department).
- VAT rate: 7% until 30 September 2027; exports are zero-rated.
- PP 30: every month, including months with no sales.
- Corporate income tax: 20%, with 0% and 15% bands for small companies.
- Every limited company: audit, shareholders' meeting, BOJ 5 and DBD filing each year, with or without turnover.
When a company must register for VAT
The test is turnover from taxable activities, not profit. Once that figure passes THB 1.8 million in a year, the company files form VAT 01 (ภ.พ.01) at its Area Revenue Office within 30 days. A company that expects to be above the threshold from the start registers before it begins trading. Online registration is also possible through the Revenue Department's registration system.
A company below the threshold is exempt, but it may register voluntarily. Voluntary registration brings the same duties: tax invoices on every sale and a PP 30 every month.
Say a yacht charter company passes THB 1.8 million of sales in August. Its 30 days start then, not at the end of the year.
Late registration can bring a surcharge and penalties on top of the tax. Revenue Department orders of 2 July 2026 are reported to allow a full penalty waiver for a first-time late registrant who registers within 30 days of crossing the threshold and pays the tax with the first return. We have not yet seen the official text of the orders, so our lawyers check the conditions with the Area Revenue Office before relying on it.
The VAT rate and what is taxed
The standard VAT rate in the Revenue Code is 10%, but it is temporarily reduced. Royal Decree No. 807 B.E. 2569 extends the reduced rate from 1 October 2026 to 30 September 2027; with local tax, VAT is 7%. Exports of goods are zero-rated.
A VAT-registered company issues a tax invoice for each sale. The invoice must show the words "Tax invoice", the seller's tax ID number and the VAT amount as a separate line (Revenue Department). The VAT the company pays on business purchases (input VAT) is set against the VAT it charges (output VAT) each month. If input VAT is higher, the excess is refunded in cash or carried forward.
Services bought from abroad and used in Thailand work differently. A software subscription or a foreign consultant's fee carries no Thai VAT on the invoice, so the Thai company pays it itself under the reverse charge. It files form PP 36 by the 7th of the following month on paper, or by the 15th online.
A worked example. In May a company sells services for THB 500,000 before VAT. Its output VAT is THB 35,000. Its purchases carry THB 12,000 of input VAT on proper tax invoices. The company pays THB 23,000 with the May PP 30, due by 15 June, or by 23 June if filed online.
The monthly PP 30 return
Once registered, the company works through the same steps every month:
- Collect the tax invoices for sales and purchases for the month.
- Work out output VAT and input VAT, and the difference between them.
- File PP 30 and pay by the 15th of the following month. Online, the deadline is the 23rd while the e-filing extension to 31 January 2027 is in force.
- Keep the invoices and the return with the company's accounting records.
A return is due for every month, including a month with no sales. A missed nil return is still treated as a late filing and can bring a fine, even though there is no tax due; sources differ on the amount, so it is worth checking with the Revenue Office.
Orders of 2 July 2026 are reported to reduce the penalty for a company that corrects a mistake itself before a tax officer records it: 2% if it pays within 15 days of the due date, 5% within 15 to 30 days, 10% within 30 to 60 days, and 20% after that; 40% once the officer has documented the issue. We have not yet seen the official text of the orders, so confirm the rate with the Revenue Office before filing a correction. The relief is not automatic: the company has to come forward and correct the return.
Bookkeeping and annual accounts
The Accounting Act B.E. 2543 applies to every limited company. Its main duties are these:
- Bookkeeping starts on the day the company is registered (s. 9).
- The company closes its accounts within 12 months of registration and then every 12 months (s. 10).
- It appoints a bookkeeper with the qualifications set by the DBD (s. 19).
- The books follow accounting standards and rest on supporting documents (s. 20).
- Accounts and documents are kept for at least 5 years, and the DBD may require up to 7 (s. 14).
The Act also sets fines, and directors are personally liable for breaches unless they prove they took no part in them (s. 40). Separately, the limitation period for tax is 10 years, so records matter well after the year is closed.
Corporate income tax: rate and returns
The standard corporate income tax rate is 20% of net profit. A smaller company pays reduced rates if its paid-in capital is no more than THB 5 million at the end of the year and its income from sales of goods and services is no more than THB 30 million:
| Net profit | Rate |
|---|---|
| Up to THB 300,000 | 0% |
| THB 300,001 to 3,000,000 | 15% |
| Above THB 3,000,000 | 20% |
For example, a small company with a net profit of THB 1,000,000 pays nothing on the first THB 300,000 and 15% on the remaining THB 700,000. Its tax is THB 105,000.
The company files two returns a year. The half-year return, PND 51, pays half of the estimated annual tax within 2 months after the end of the first six months. The annual return, PND 50, is filed with payment within 150 days of the end of the accounting period (Revenue Department). A new company's first accounting period may be shorter than 12 months.
Withholding tax the company deducts
When a company pays certain kinds of income, it deducts tax and pays it over to the Revenue Department. Payments to other companies go on PND 53, payments to individuals on PND 3 and salaries on PND 1. All three are due by the 7th of the following month on paper and by the 15th online. Typical rates on payments to individuals are 3% for services and professional fees, 5% for rent and 2% for advertising (Revenue Department).
Audit and filing with the DBD
Each year an authorised auditor audits the financial statements and gives an opinion on them (Accounting Act, s. 11). This applies to every limited company, however small; the exemption covers only small registered partnerships. Then come three steps:
- The shareholders' meeting approves the audited statements within 4 months of the end of the financial year.
- The company files the shareholder list, form BOJ 5 (บอจ.5), with the DBD within 14 days of the meeting.
- The company files the statements with the DBD within one month of the meeting. Filing is online only, through DBD e-Filing.
Many owners believe that a company with no sales has nothing to report. The Accounting Act says otherwise: the books, the audit and the DBD filing apply whether or not the company traded (ss. 8, 11). If a company files no statements for more than three years in a row, the DBD may treat it as dormant and strike it off the register.
The BOJ 5 is the company's official shareholder list, so it matters whenever the DBD checks who owns a company. Our lawyers check that the BOJ 5 list matches the people who actually hold and paid for the shares. A typical situation is described in A DBD check: proving the shareholders are real.
A year's deadline calendar
The table assumes a financial year that matches the calendar year, from 1 January to 31 December. Paper deadlines come first, online deadlines in brackets.
| When | What | Who files |
|---|---|---|
| Every month by the 7th (online by the 15th) | PND 1, PND 3, PND 53; PP 36 for services bought from abroad | Every company that pays salaries, fees or foreign suppliers |
| Every month by the 15th (online by the 23rd) | PP 30 | VAT-registered companies, including nil months |
| By 30 April | Shareholders' meeting approves the audited statements | Every limited company |
| Within 14 days of the meeting | BOJ 5 shareholder list to the DBD | Every limited company |
| Within one month of the meeting | Financial statements through DBD e-Filing | Every limited company |
| About 29–30 May (150 days after 31 December) | PND 50 and payment of the annual tax | Every limited company |
| By 31 August | PND 51 and half of the estimated tax | Every limited company |
The PND 50 and PND 51 dates are counted from the end of the financial year, not taken from an official Revenue Department calendar. DBD deadlines move around holidays too: in 2026 the last day for filing financial statements was moved to 2 June. If your financial year ends on another date, every annual deadline moves with it.
What is not settled yet
The 8-day e-filing extension behind the online deadlines (the 23rd for PP 30, the 15th for withholding returns) runs to 31 January 2027, and there is no official word yet on whether it will be renewed. There is also no official guidance on whether it covers PND 50 and PND 51. Until there is, the safe course is to plan around the paper deadlines.
When to bring in an accountant and a lawyer
An owner can track turnover, collect invoices and watch the calendar. The books need a bookkeeper with DBD qualifications and the audit needs an authorised auditor, because the law requires both. When you compare accounting services in Thailand, check these two points first.
A lawyer helps where the question is legal rather than arithmetic: late VAT registration and the waiver conditions, a voluntary correction under the 2026 orders, a dispute with the Revenue Office, or a change of shareholders that has to appear in the BOJ 5. If you are still at the start, read how to register a Thai company and our overview of starting a business in Thailand. Your personal tax as a director or employee is a separate topic, covered under Thai taxes.
Our team helps with VAT registration, checks a company's filing calendar and helps put missed deadlines right; the price is [price]. If you are setting up from scratch, see company registration in Thailand and how a company and work permit in six weeks usually goes. If you have missed a date, send us the last PP 30 and the meeting minutes. We reply within 24 hours and agree the fee before any work starts.
